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Owning a home is every couple's dream; however, nowadays it is becoming increasingly popular to rent instead of buying a house. While there are positives for either avenue, here are five reasons why renting instead of buying a home may be beneficial for you. In order to buy a home, you need to be able to afford a down payment, whereas when you rent a property, you won't need to hand over that large sum of money. Renting an apartment or house means that if there are any problems, like leaks or broken appliances, the landlord will have to take on the costs. In the case of an emergency or a drastic change in circumstances, you can move property easily if you're renting, which may be difficult if you've bought your home. Renting offers more predictable expenses since your payment remains the same each month, while homeownership can come with unpredictable costs. Lastly, when you buy a property, you're more than likely tying yourself down to long-term debt, which isn't the case if you rent.
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Why Renting Is Better Than Buying A House